Deepwater Asset Management LLC purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 36,742 shares of the aerospace company’s stock, valued at approximately $6,065,000. AeroVironment makes up 2.8% of Deepwater Asset Management LLC’s portfolio, making the stock its 24th largest position.
A number of other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in AeroVironment during the second quarter worth $574,566,000. Geode Capital Management LLC raised its holdings in shares of AeroVironment by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company’s stock worth $213,956,000 after buying an additional 71,903 shares in the last quarter. Heard Capital LLC raised its holdings in shares of AeroVironment by 48.4% during the 4th quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company’s stock worth $174,681,000 after buying an additional 235,685 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of AeroVironment by 17.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 504,270 shares of the aerospace company’s stock worth $143,692,000 after buying an additional 73,963 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of AeroVironment by 18.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 490,426 shares of the aerospace company’s stock worth $89,772,000 after buying an additional 77,619 shares during the last quarter. 86.38% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on AVAV. Jefferies Financial Group decreased their target price on AeroVironment from $305.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen raised shares of AeroVironment from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Stifel Nicolaus reduced their price target on shares of AeroVironment from $315.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. KeyCorp reiterated an “overweight” rating on shares of AeroVironment in a research report on Tuesday, July 28th. Finally, Citigroup reissued a “market outperform” rating on shares of AeroVironment in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AeroVironment presently has an average rating of “Moderate Buy” and an average target price of $266.68.
AeroVironment Stock Performance
Shares of AVAV stock opened at $174.14 on Wednesday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of -47.32, a PEG ratio of 6.56 and a beta of 1.41. The company has a current ratio of 4.30, a quick ratio of 3.59 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $162.49 and its 200-day moving average price is $192.46. AeroVironment, Inc. has a 12 month low of $135.20 and a 12 month high of $417.86.
AeroVironment (NASDAQ:AVAV – Get Free Report) last released its quarterly earnings data on Monday, June 29th. The aerospace company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.37. The company had revenue of $641.62 million during the quarter, compared to the consensus estimate of $555.97 million. AeroVironment had a positive return on equity of 3.71% and a negative net margin of 9.00%.The firm’s revenue was up 133.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. Equities research analysts forecast that AeroVironment, Inc. will post 3.26 EPS for the current year.
Insider Activity at AeroVironment
In other AeroVironment news, CAO Brian Charles Shackley sold 205 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $201.86, for a total value of $41,381.30. Following the completion of the transaction, the chief accounting officer directly owned 7,888 shares in the company, valued at approximately $1,592,271.68. This represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen F. Page sold 250 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $174.41, for a total transaction of $43,602.50. Following the transaction, the director directly owned 49,001 shares of the company’s stock, valued at $8,546,264.41. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.81% of the company’s stock.
AeroVironment Company Profile
AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.
The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.
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